Tuesday, May 29, 2007
He who hesitates........
Independent: BOE Chews over food prices in face of rising inflation
Another case where the BOE, hijacked by Blanchflower is loosing complete control of the economy.
Posted by andy @ 10:49 AM (28 views) Add Comment
2 Comments
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1. Orwell said...
"...Food and non-alcoholic drink prices have leapt by 6 per cent over the past 12 months, the fastest annual rate of increase for six years. Indeed, food is a key factor behind the recent rise in overall inflation, which is currently running at 2.8 per cent and well above the Bank's 2 per cent target..."
WELL OK HM GOVT. TELL US ITS RUNNING AT 2.8% BUT WE KNOW DIFFERENTLY DON'T WE?
"...It is the price of vegetables that has really soared with potatoes up by 16.5 per cent in the year to April, and fresh vegetables other than spuds rising by a massive 21.2 per cent. Other double-digit increases include fresh fish (12.8 per cent), eggs (14.4 per cent) and milk (10.4 per cent). While some increases can be dismissed as the consequence of the vagaries of the British weather, analysts say there are more deep-seated factors at work..."
TRUE AND ONE OF THESE IS THE FACT THAT MESSRS TESCO, SAINSBURY AND CO. OWN ALL THE POINTS OF SALE AND OF COURSE THIS DOESN'T LEAD TO CARTELS AND RESTRICTIVE PRACTICES DOES IT? BET BLUR AND THE GULPER DIDN'T THINK OF THIS WHEN ALLOWING THEM TO BASTARDISE AND CIRCUMVENT THE PLANNING LAWS DID THEY (EVEN THOUGH THEY MAY HAVE BEEN MAJOR CONTRIBUTORS TO PARTY COFFERS)?
"...Some experts have predicted that retail food prices are heading for their biggest annual increase for 30 years..."
OH DEAR OH DEAR WHAT WILL THAT DO TO INTEREST RATES?
"...Particularly worrying for the Monetary Policy Committee is the fact that food is shooting up at a time when world energy prices are stirring again. London-traded Brent crude oil last week hit a nine-month high of $71.80 a barrel..."
AND SOME EVEN SAY THAT IT WILL TOP $100 PER BARREL. OH DEAR OH DEAR... WHY DO ALL THESE INCONVENIENCES ALWAYS ARISE ON 'LABOUR' S WATCH? WE HAD THIS IN THE 1970'S DIDN'T WE?
2. royston said...
What are we to do? There is nothing for it but to exclude food and drink from the CPI!